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Re: How to handle periodic cash reciepts vs. non-periodic accounts payable?
- Subject: Re: How to handle periodic cash reciepts vs. non-periodic accounts payable?
- From: Tony Fraser <..hidden..>
- Date: Mon, 25 Sep 2006 16:48:38 -0700
On Mon, 2006-09-25 at 13:56 -0400, Richard Ellis wrote:
> What I can't quite deduce is an easy way to enter the cash reciept
> from the tenant each bi-week and have it automatically "close" the AR
> transactions as time goes by and the bi-weekly reciepts "fill" the
> outstanding AR rent transactions.
> I tried "spreading" the bi-weekly payment out among outstanding AR
> transactions, but eventually I end up with a negative AR payment due
> when the tenant is "ahead" of the monthly rent (because I would not
> have entered next months AR transaction yet), which then starts to
> get either LSMB or me confused and messes up the totals in later
This is the way I would do it. When the tenant is "ahead" over pay the
current month. When you do that LSMB will create a new AP transaction
with just a payment (a credit) for the amount you over pay. When the
next bi-weekly payment comes you can apply the credit plus the mornal
payment to the new monthly transaction.
> I've also tried simply inputting the bi-weekly payment as a cash
> reciept not linked to any particular AR rent transaction. This works
> better in that the totals do not get out of whack in later dates, and
> I don't get confused as to what I've done, but then LSMB thinks that
> all the AR transactions for the montly rents are "open", even though
> in the Outstanding and AR Aging reports it shows no total due.
You could go this way too. You just have to create a $0.00 receipt that
"pays" the monthly transactions with the credits created by the
bi-weekly payments every so often. The other way just does this as you
go without creating a bunch of unnecessary AP transactions.
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